Oclaro Inc. (OCLR) Stock Price Up 3.6%
Shares of Oclaro Inc. (NASDAQ:OCLR) rose 3.6% on Monday . The company traded as high as $4.98 and last traded at $4.93, with a volume of 2,626,097 shares. The stock had previously closed at $4.76.
OCLR has been the subject of a number of research reports. B. Riley restated a “buy” rating and set a $5.25 target price on shares of Oclaro in a report on Monday, March 14th. MKM Partners began coverage on shares of Oclaro in a research note on Wednesday, March 16th. They issued a “buy” rating and a $6.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Oclaro from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Wednesday, March 23rd. Craig Hallum raised their price objective on shares of Oclaro from $5.25 to $5.75 and gave the stock a “buy” rating in a research note on Monday, March 28th. Finally, Northland Securities raised their price objective on shares of Oclaro from $5.00 to $6.50 and gave the stock an “outperform” rating in a research note on Monday, March 28th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $6.25.
The firm’s market cap is $557.37 million. The firm’s 50-day moving average price is $4.85 and its 200-day moving average price is $4.56.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The business had revenue of $101.10 million for the quarter, compared to the consensus estimate of $98.50 million. The company’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the firm earned ($0.09) earnings per share. Analysts forecast that Oclaro Inc. will post $0.10 earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Oclaro stock. 1492 Capital Management LLC purchased a new position in Oclaro Inc. (NASDAQ:OCLR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 916,197 shares of the company’s stock, valued at approximately $3,188,000. Oclaro accounts for approximately 2.3% of 1492 Capital Management LLC’s investment portfolio, making the stock its 12th largest position. 1492 Capital Management LLC owned about 0.83% of Oclaro as of its most recent filing with the SEC.
Oclaro, Inc is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.
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